Survival And Prosperity

Survival And Prosperity
"Protecting and Growing Self and Wealth in These Uncertain Times," Survival And Prosperity is a blog that was created in November 2010 by Chicago-based researcher and veteran blogger Christopher E. Hill and which focuses on financial and p

Articles

No End In Sight For U.S. Banking Crisis2008-06-07 05:31:00
The Wall Street Journal, with a little bit of help from federal regulators, managed to torpedo hopes earlier today that the United States was approaching an end to a banking crisis brought on by the housing bust. Michael Corkery, Jonathan Karp, and Damian Paletta wrote:
Until now, most of the damage to banks from the ...More About:Congress
, Economy
, Government
, Banking
, Housing

Lacker: The Fed?s Fletcher Christian2008-06-07 03:51:00
Captain Bligh: I wonder why an alleged gentleman should give his first loyalty to ordinary seamen.
FletcherChristian
: Instead of to other alleged gentlemen?
Captain Bligh: Impertinence noted. It shall be logged. Do you care to enlarge the entry?
Fletcher Christian: Yes, only with this observation, which I will report to the Admiralty in any case: ...More About:Federal Reserve
, Investment Banks
, Bailout

All Good Housing News, All The Time2008-06-07 02:43:00
It amazes me how much adults can revert back to acting like children. Confronted with a harsh economic reality, I see more and more people refusing to acknowledge what is actually going on around them. On a day when the New York Time
s ran a story that said almost one in eleven mortgages ...More About:News
, Foreclosures
, Housing
, Happy

Foreclosures Hit The Hamptons2008-06-06 05:30:00
?No, it can?t happen here.? Time and time again this phrase has been repeated when it comes to the prospect of foreclosures in one?s neighborhood. And all too often it is a declaration proved wrong. One area on the East Coast where residents would least expect to see foreclosed properties is the ...More About:Foreclosures
, Hamptons

Latest Bank Actions Draw Comparisons To 1929 Crash2008-06-06 02:38:00
With all the upheaval in the global economy lately, comparisons were bound to be made with another era symbolic of financial hardship. Last weekend, Philip Aldrick of the Telegraph (UK) wrote:
Perhaps the most intriguing parallel, though, is the crude attempt at self-preservation made by the investment trusts in 1929 and the banks now.
In the ...More About:Credit
, Depression
, Debt
, Bank
, Crash

Write Downs, Credit Losses Approach $400 Billion Mark2008-06-04 23:29:00
From Bloomberg yesterday:
The biggest banks and securities firms have booked about $387 billion of writedowns and credit losses since the beginning of last year, as the collapse of the U.S. housing market led to losses on securities tied to the value of home prices.
Source:
?Wachovia?s Thompson Joins Prince, O?Neal Toppled by Subprime?
Peter Robison
Bloomberg, June 3, 2008
Share ...More About:Credit
, Wall Street
, Write
, Housing
, Mark

For Whom The Bell Tolls, Part 32008-06-04 06:44:00
Aaron Elstein of Crain?s New York Business is a no nonsense kind of guy. Last Friday, Elstein began a piece on Wall Street layoffs with the following sentence:
In the past year, 22,000 New Yorkers who work on Wall Street have lost their jobs, according to a Crain?s estimate. And far more blood-letting ...More About:Bell
, Part
, Part 3

Back To The Trenches2008-05-28 18:59:00
After an extended Memorial Day Weekend, it?s good to be blogging again. And guess what? Boom2Bust.com turned one this past weekend!
Altered Images, ?Happy Birthday? (1981)
YouTube Video Link
Unfortunately, you won?t find my very first post from that 2007 holiday weekend, as my girlfriend left a comment that I later tried to remove, but ...More About:Economy
, Back
, Gasoline
, Consumers

World?s Leading Banks React To Write-Down Pain2008-05-23 06:28:00
Rules. We?re all taught to follow them at a young age. You know how to spot someone who has real authority and influence? No, it?s not those chumps who break the rules. Rather, it?s those who change the rules of the game to fit their needs. And that?s what we ...More About:World
, Credit
, Banks
, Write
, Pain

Related Posts2008-05-22 22:45:00
From Investorazzi:
?George Soros
Shares Economic Outlook, Warns Of Bear Market Rally?
Billionaire investor George Soros visited the London School of Economics yesterday and said recent stock market gains were the result of a ?bear market rally? which would reverse course as the global credit crunch gets worse. He also painted a grim picture for the ...More About:Warren Buffett
, Posts
, Related

U.S. Energy Policy Is All Smoke And Mirrors2008-05-21 07:45:00
With the price of crude oil now well above $100, how has the U.S. government responded? Well, last week Congress
voted to halt the shipment of 70,000 barrels that were being sent on a daily basis to our emergency reserve of crude oil known as the Strategic Petroleum Reserve, or SPR. Never mind ...More About:Government
, Commodities
, Energy
, Oil

Related Posts2008-05-21 05:34:00
Just wanted to let you know that you might want to look at two posts about ?crash prophets? Marc Faber and George Soros
on our sister blog, Investorazzi.com:
“Marc Faber Says Credit Crunch Not Over, Retail To Get Hit Next”
I personally think we are just starting the credit crunch and that it will get much worse ...More About:Posts
, Related

Quote For The Week2008-05-20 05:41:00
Last Wednesday, the U.S. Department of Labor reported that the consumer price index, or CPI, rose a moderate 0.2% in April. Excluding ?volatile? food and energy prices, the ?core? consumer price index increased only 0.1%. Over the past 12 months consumer prices are up 3.9%, with ?core? inflation running at 2.3%.
In response to ...More About:Week
, Quote

U.S. Senator Mocks The System2008-05-16 14:30:00
I don?t know about you, but I?m starting to get this feeling that our Senate
is evolving into that ?legislative? body from the Roman Empire (not Republic, mind you) and from whom they derive their name. Well, at least they?re not assassinating each other in the hallways of the Dirksen Building (at least, not ...More About:Congress
, System
, Politicians
, Housing

George Soros Posts2008-05-16 06:41:00
Just wanted to let you know that you might want to look at the following two posts about ?crash prophet? GeorgeSoros
on our sister blog, Investorazzi.com:
?George Soros
Warns Of Financial Crisis, Wealth Destruction? from May 15
The days of rapid financial wealth creation are over. We?re now in a period of wealth destruction. It is ...More About:Posts

Gold, Greenbacks, And Government Intervention2008-05-16 06:06:00
I remember reading a rather significant article by MarketWatch?s Peter Brimelow last fall. As someone who follows precious metals religiously, I had already been aware of the claims made by groups such as the Gold Anti-Trust Action Committee, or GATA, that the price of gold is being manipulated. However, on October 18, 2007, ...More About:Europe
, India
, Government
, China
, Euro

FHA Chief Shoots Down Housing Bailout Bill2008-05-14 23:08:00
Here?s another great piece that was suggested to me. As you may have heard already, the U.S. House of Representatives passed a bill last week that would enable struggling mortgage holders to refinance into more affordable loans guaranteed by Uncle Sam. The legislation, spearheaded by House Financial Services Chairman Barney Frank, would require ...More About:Congress
, Government
, Chief
, Politicians
, Housing

Congress Approves National Colosseum2008-05-14 06:24:00
Not really. But Capitol Hill politicians might as well allocate funds to build one, complete with chariot races and gladiators to keep us happy, considering the way they?re pandering to the masses these days. When Congress
only has a 20% approval rating (Gallup), what else would you expect? Something like what happened ...More About:Terrorism
, India
, Middle East
, Government

Banking On Failure2008-05-13 05:54:00
Bank failures. They?re coming, according to a number of industry analysts. For them, the only question is, ?How many?? Back on April 29, I wrote:
Sheila Bair, chairman of the Federal Deposit Insurance Corporation, said new data on the FDIC?s so called ?troubled bank? list will show an increase over the current 76 ...More About:Banking
, Failure

The United States Of Disrepair2008-05-13 05:01:00
Yesterday, I left my apartment on the northwest side of Chicago to visit my parents for Mother?s Day. Needless to say, the thirty minute trip to their home turned into a game of ?Avoid the Pothole.? Granted, conditions were particularly bad this past winter. However, having driven for almost two decades now, ...More About:United States
, Infrastructure
, United
, States
, The United States

Housing Bailout Latest2008-05-12 21:32:00
This morning I received an e-mail from the powers-that-be behind Stop The Housing
Bailout! According to STHB:
? Readers against a housing bailout should contact U.S. Senator Richard C. Shelby. He can be reached by telephone at (202)224-5744, and by e-mail at Senator@shelby.senate.gov. STHB stated, ?He is going to run the show from ...More About:Congress
, President Bush
, Politicians
, Mortgages

Quote For The Week2008-05-12 20:43:00
During my time away from Boom2Bust.com last week, I stumbled across a quote I had saved about Wall Street analysts. Aubie Baltin (CFA, CTA, CFP, Ph.D), a regular contributor to the Gold-Eagle website, wrote all the way back in November 2005:
Now days all you need to become a high priced analyst is to be ...More About:Week
, Quote

Latest On Housing Bailout2008-05-08 20:48:00
Even though I am still on hiatus, I just wanted to pass this along to you from Stop The Housing
Bailout!:
Bailout Alert! According to this article, Bush says he will veto the Frank-Dodd bailout bill.
Please call or email the White House to voice your support of a veto of the any housing bailout ...More About:Congress
, Government
, President Bush
, Politicians